Can an appraisal fee for an investment art collection be deducted if the art is neither being donated or stolen?

Done for insurance purposes only.

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1 Best answer

Level 15

Jun 4, 2019 6:59:31 PM

Here is the exact IRS wording:

You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property.

Level 15

Jun 4, 2019 6:59:31 PM

Here is the exact IRS wording:

You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property.